Friday, October 21, 2011

"S&P 500 Breaks Key Resistance" (SPX; SPY)

The S&P 500's 22.86 point gain today put the index above the
1,230 key resistance level that it had been struggling to break above
for the past few weeks. As shown below, the index now has quite a bit
of room to run before it bumps into any significant upside resistance,
which no doubt allows market bulls to breathe a sigh of relief.